Published On: Wed, May 30th, 2018

5 Benefits of Cryptocurrency Payment for Moving Company Customers

Whether accepting cryptocurrency payment for moving company customers is right or not depends on two simple questions- What is cryptocurrency and why does it matter?

What is Cryptocurrency?

It is a digital currency operating independently based on encryption techniques to monitor the currency units and verify the transfer of funds. There are many cryptocurrencies in the market such as Bitcoin, Litecoin, Ethereum, ripple, etc.  The first cryptocurrency was Bitcoin launched in 2009 by Satoshi Nakamato. There are over 17 million bitcoins in circulation having market value $140 billion as of May 2018.

Many companies have already started adopting cryptocurrencies as their payment method. California Movers: Local and Long Distance Moving Company (https://californiamoversusa.com/) was the first to start accepting the Ethereum and Bitcoin as payment for services in the moving industry.

Why does it Matter?

Accepting cryptocurrency for your business depends on the strengths and weakness of the moving company.  It is important to have the sufficient knowledge before accepting the cryptocurrency. You don’t have to be blockchain expert but you should at least understand the basics of accepting cryptocurrency payments. Here are the five benefits of cryptocurrency payments for moving company customers.

  1. Fraud Proof

There is no control over the currency neither by government nor bank. Thus you own the currency as it is decentralized. Public ledger contains the confirmed transactions. The coin owners identities have encryption with the record keeping ensure the legitimacy. Moving company taking payments through cryptocurrency is beneficial for the customers.  Cryptocurrencies are digital payments and cannot be reversed arbitrarily or counterfeited by the sender such as with credit card charge-backs

  1.  Identity Theft

An accurate balance is there between digital wallets ensured by ledger. The technology checks the transactions for the coins as owned by current spender. The public ledger is also known as “transaction blockchain”.  Blockchain technology ensures secure transactions with proper encryption avoiding hacks and void of fraud. When you make the transaction with the credit card, you provide certain information of your card. But with cryptocurrency, you only send the payment with no further information. Payments through credit card work on pull mechanism taking information from you whereas cryptocurrency works on push mechanism to send exactly what is mandatory to the merchant.

The blockchain technology with seamless security impacts almost every segment of life. Moving company looks for the secure end to end transition for the payments and their customers get a satisfactory response through cryptocurrencies.

  1. Immediate Settlement

There is a benefit of blockchain technology that payments get transfer instantly. All you need is an internet connection, smart device and you can immediately transfer the money from one account to the other.  For example, if you purchase the real estate property, it takes time to get the settlement and then you own the property as the third party involves in the payments. But with cryptocurrencies, you can transfer or receive the money instantly as there are no third party approvals. You can complete the transactions even in the future date with the less time and expenses than other payment methods.  Hence Moving Company customers don’t have to wait for too long to transfer the payment.

  1. Easy Access

Digital data and media are essential to complete the transaction in the cryptocurrencies. So this has the access to everyone who has a viable internet connection and basic knowledge to about blockchain technology and cryptocurrency networks.  People should also have the access to relevant sites and portals. It’s been estimated that 2.2 billion people have the access to internet connection but not having currently the access to the traditional system of banking or exchange. Cryptocurrency makes it easier to potential customers an easy access to the asset transfer.

  1. Lower Fees

There are no fees with exchange because the system gets compensation by the network. But even when there are no transfer fees, there are some people, who engage themselves in third-party services such as Coinbase, maintaining and creating their own Bitcoin wallet. This is like PayPal but it charges the fees. Its services act like PayPal does for credit card users providing the online exchange system for the Bitcoin. It’s interesting to know that PayPal doesn’t accept Bitcoins.

Cryptocurrency has the long way to go to support the payments for moving company. Many people aren’t aware of the digital currencies. But there should be an education for them in the form of seminars or personal sessions to apply when they move their properties. The future of cryptocurrencies is bright with full control over money, secure transactions, easy access and lower fees as compared to other payment methods.

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- Outside contributors to the Dispatch are always welcome to offer their unique voices, contradictory opinions or presentation of information not included on the site.

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